Several other brokerages have also recently issued reports on CCNE. Janney Montgomery Scott started coverage on shares of CNB Financial in a research note on Tuesday, January 7th. They set a “buy” rating on the stock. TheStreet cut shares of CNB Financial from a “b-” rating to a “c+” rating in a research note on Tuesday, March 17th. BidaskClub cut shares of CNB Financial from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 4th. Finally, Zacks Investment Research raised shares of CNB Financial from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $33.50.
CCNE traded down $0.49 during trading on Wednesday, hitting $17.50. The stock had a trading volume of 50,200 shares, compared to its average volume of 35,755. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market capitalization of $257.98 million, a P/E ratio of 6.65 and a beta of 1.08. The company’s 50-day moving average price is $24.43 and its 200 day moving average price is $29.26. CNB Financial has a twelve month low of $15.82 and a twelve month high of $33.78.
In related news, Director Francis X. Straub III purchased 5,107 shares of the stock in a transaction dated Wednesday, March 11th. The shares were acquired at an average cost of $19.70 per share, with a total value of $100,607.90. Following the purchase, the director now directly owns 17,459 shares in the company, valued at approximately $343,942.30. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.97% of the company’s stock.
Several large investors have recently bought and sold shares of CCNE. Royce & Associates LP grew its stake in CNB Financial by 2.5% in the 4th quarter. Royce & Associates LP now owns 733,935 shares of the bank’s stock valued at $23,985,000 after acquiring an additional 17,868 shares during the last quarter. Renaissance Technologies LLC grew its stake in CNB Financial by 2.1% in the 4th quarter. Renaissance Technologies LLC now owns 329,102 shares of the bank’s stock valued at $10,755,000 after acquiring an additional 6,700 shares during the last quarter. State Street Corp grew its stake in CNB Financial by 6.3% in the 4th quarter. State Street Corp now owns 283,995 shares of the bank’s stock valued at $9,281,000 after acquiring an additional 16,786 shares during the last quarter. Geode Capital Management LLC grew its stake in CNB Financial by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 201,810 shares of the bank’s stock valued at $6,594,000 after acquiring an additional 6,427 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in CNB Financial by 6.4% in the 4th quarter. Bank of New York Mellon Corp now owns 98,584 shares of the bank’s stock valued at $3,221,000 after acquiring an additional 5,949 shares during the last quarter. 44.51% of the stock is currently owned by institutional investors and hedge funds.
About CNB Financial
CNB Financial Corporation operates as the bank holding company for CNB Bank that provides a range of banking products and services for individual, business, governmental, and institutional customers. The company accepts checking, savings, and time deposit accounts; and offers real estate, commercial, industrial, residential, and consumer loans, as well as various other specialized financial services.
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